Regulatory Alerts2018-11-13
Added · Updated
Directions for Banking Enterprises while Assisting Customers to Declare Foreign Exchange Receipts and Disbursements or Transactions
Banking enterprises must assist customers in making truthful foreign exchange declarations against the New Taiwan dollar, including online verification of annual aggregate settlement amounts and prevention of third-party name usage. Single transaction limits are set at US$100,000 for general settlements and NT$500,000 for specific employee share transactions, with amounts below NT$500,000 exempt from declaration statements. The rules specify ID number requirements for various declarant types, prohibit correction of stated amounts on declaration forms, and mandate verification of supporting documents for loans, dividends, and investments.
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